The NDBP and a company specializing in clean energy are working together to launch a project that will make businesses and residences more energy efficient.
The project will be a grid-connected solar electricity system which will link several solar panels to the power grid or a net metering concept.
NDBP President Kaleb Udui said if the the use of energy can be reduced because the solar panels or the alternative energy use can make electricity bill small, then the money said from the power usage can be used for other investments.
The program will be the first of its kind in Palau and this program is being conceptualized since 2006 .
He said that several establishments, residential and commercial have applied for the project by applying for loans to enable them to pay the cost of using solar panels.
The project can reduce electricity consumption in home and businesses to at least 50 percent.
The project is set to be launched by the end of the year.
He added at the same time it will give PPUC excess power capacity load and is in accordance to the Green Energy Micronesia Initiative (GEM).
Climate change remains the greatest threat to the livelihoods, security and well-being of the peoples of the Pacific.
Palau, Federated States of Micronesia and Republic of the Marshall Islands recently launched the Green Energy Micronesia (GEM) Initiative. GEM, also known as the 20/30/20 Plan, proposes the following targets and goals for the Micronesian region: a 20 percent energy efficiency improvement by the supply side, 30 percent energy efficiency improvement by end-users, and a 20 percent electricity generation through renewable energy; all by 2020.
